Gold continues trading in the short-term uptrend. The upside target is Target Zone 3, 1940 – 1933. Strong support levels, where one can enter purchases, are the zone of 1894 – 1890 and 1877 – 1872. Before you enter a trade, expect any of the support zones to be tested and a corresponding pattern to appear. The first upside target is the high of January 16.
If Target Zone 3 is broken out, the next upside target will be Gold Zone 3, 1971 – 1968.
XAUUSD trading ideas for today:
- Buy according to the pattern at support (А) 1894 – 1890.
TakeProfit: 1928.
StopLoss: according to the pattern rules. - Buy according to the pattern at support (В) 1877 – 1872.
TakeProfit: 1928.
StopLoss: according to the pattern rules.
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